Back
4 Mar 2015
AUD/USD finds support at 0.7800
FXStreet (Edinburgh) - The Aussie dollar is posting marginal losses vs. the US dollar at the end of the Asian session on Wednesday, taking AUD/USD to the 0.7810 area.
AUD/USD lower post-GDP results
The pair briefly visited the sub-0.7800 area after the GDP figures showed the Australian economy expanded at an annual pace of 2.5% during Q4, matching estimates although lower from the 2.7% previous. Despite the lower print, the GDP continues within the RBA’s year-end target.
Following the release, RBA’s J.Edwards commented that the Aussie has still some room to drop, and pointed to caution in the domestic housing sector when trying to justify yesterday’s ‘on hold’ stance by the central bank.
AUD/USD key levels
At the moment the pair is losing 0.09% at 0.7812 with the next support at 0.7751 (low Mar.3) followed by 0.7721 (low Feb.13) and finally 0.7644 (low Feb.12). On the flip side, a break above 0.7850 (high Mar.2) would aim for 0.7914 (high Feb.26) and finally 0.7972 (55-d MA).
AUD/USD lower post-GDP results
The pair briefly visited the sub-0.7800 area after the GDP figures showed the Australian economy expanded at an annual pace of 2.5% during Q4, matching estimates although lower from the 2.7% previous. Despite the lower print, the GDP continues within the RBA’s year-end target.
Following the release, RBA’s J.Edwards commented that the Aussie has still some room to drop, and pointed to caution in the domestic housing sector when trying to justify yesterday’s ‘on hold’ stance by the central bank.
AUD/USD key levels
At the moment the pair is losing 0.09% at 0.7812 with the next support at 0.7751 (low Mar.3) followed by 0.7721 (low Feb.13) and finally 0.7644 (low Feb.12). On the flip side, a break above 0.7850 (high Mar.2) would aim for 0.7914 (high Feb.26) and finally 0.7972 (55-d MA).